The “super app” Meituan boasts a valuation of $180 billion, trailing only Alibaba and Tencent in the Chinese tech space. But with success and size has come scrutiny.
In the short but storied history of China’s tech titans, few chapters inspire more renown than a five-year period known as the War of a Thousand Groupons. The conflict began in 2008, with the launch of the American group-discount platform. In Silicon Valley, Groupon created a sensation, soaring to a valuation of more than $1 billion in just 16 months — the quickest pace ever.
Techies were drooling in China too, where a bargain-sensitive consumer market seemed tailor-made for such a
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